The solution is simple: it’s Saible
Saible is a transparent, secure payment system that ring-fences funds and protects them at every stage of a project. This means payments are ready to be released as soon as each job is completed and everyone gets paid on time, every time.
We calculate the amounts to be withheld for domestic reverse charged VAT, Construction Industry Scheme PAYE, and retentions, before distributing payments to everyone involved with the project.
How is this achieved? Well, it’s all thanks to our game-changing DiPPA (Digital Parallel Payment Account).
It also comes with minimal costs: just 0.25% transaction fees on outgoing payments made by project owners, so it's free to use for the supply chain.
Parallel Payment Process
What’s a DiPPA?
It’s a Digital Parallel Payment Account which is similar to a Project Bank Account (PBA), but with some key differences.
- It can be opened instantly instead of taking months
- Comes with full and complete Know Your Customer checks for everyone funding or being paid by the project
- Allows everyone in the supply chain to manage their own payments
- Offers controlled transparency so that no one with a commercial interest can calculate others’ profit margins
- Comes with a trust agreement to ring fence funds
- Provides simple statements that finance teams can easily reconcile
A DiPPA is designed to minimise the risk of lending, relieve the stress of late payments and banish project insecurity.
How to set up with Saible
Get up and running
Download the app, register, connect your bank account and you’re good to go.
Be free of hidden fees
Saible’s super low transaction fees (0.25% on outgoing payments) are paid by the project owner, so it’s free for everyone else involved
Keep it business as usual
Your payment application, certification, and drawdown processes carry on as normal.
Enjoy high security protection
Project monies are held in UK licenced and regulated bank accounts, and your data is protected by cutting edge, cloud native, and biometric security.
